Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Canadian Natural Resources Limited (NYSE:CNQ – Free Report) (TSE:CNQ) by 10.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,435 shares of the oil and gas producer’s stock after selling 6,743 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Canadian Natural Resources were worth $1,974,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in the business. RFP Financial Group LLC lifted its holdings in shares of Canadian Natural Resources by 98.3% during the second quarter. RFP Financial Group LLC now owns 710 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 352 shares during the period. Park Place Capital Corp lifted its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Park Place Capital Corp now owns 716 shares of the oil and gas producer’s stock worth $25,000 after purchasing an additional 358 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in shares of Canadian Natural Resources by 100.0% during the second quarter. Sugarloaf Wealth Management LLC now owns 728 shares of the oil and gas producer’s stock worth $26,000 after purchasing an additional 364 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of Canadian Natural Resources by 91.6% during the second quarter. Bruce G. Allen Investments LLC now owns 868 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 415 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Canadian Natural Resources by 104.7% during the second quarter. GAMMA Investing LLC now owns 874 shares of the oil and gas producer’s stock worth $31,000 after purchasing an additional 447 shares during the period. 74.03% of the stock is owned by institutional investors.
Canadian Natural Resources Stock Up 1.7 %
Shares of NYSE CNQ opened at $33.66 on Tuesday. Canadian Natural Resources Limited has a 1 year low of $29.45 and a 1 year high of $41.29. The stock has a market capitalization of $71.04 billion, a P/E ratio of 13.07 and a beta of 1.50. The company has a 50-day moving average price of $34.44 and a 200-day moving average price of $35.44. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.84 and a quick ratio of 0.53.
Canadian Natural Resources Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 13th will be paid a $0.388 dividend. This represents a $1.55 dividend on an annualized basis and a yield of 4.61%. This is a boost from Canadian Natural Resources’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, December 13th. Canadian Natural Resources’s payout ratio is presently 60.58%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on CNQ shares. StockNews.com downgraded shares of Canadian Natural Resources from a “buy” rating to a “hold” rating in a research note on Friday, August 23rd. Desjardins upgraded shares of Canadian Natural Resources from a “hold” rating to a “moderate buy” rating in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.00.
Get Our Latest Stock Analysis on CNQ
Canadian Natural Resources Company Profile
Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).
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